Bell Partners Acquires Suburban Atlanta Apartment Community
The acquisition marks the 11th property owned or managed by Bell Partners in metro Atlanta
GREENSBORO, N.C. – Sept. 8, 2021 – Bell Partners Inc., one of the nation’s leading apartment investment and management companies, has acquired Avery at Northwinds, an 800-unit apartment community in Alpharetta, Georgia, a suburb of Atlanta. The property, renamed to Bell Alpharetta, was purchased on behalf of the firm’s Bell Value-Add Fund VII investors. The acquisition marks the 11th property owned or managed by Bell Partners in metro Atlanta.
Bell Alpharetta offers residents a premier suburban location with access to several employment and entertainment options. Alpharetta is home to more than 700 technology companies, with firms such as Apple, Salesforce and GE bringing more than 75,000 jobs to the area. Just 20 miles north of Atlanta, the property’s proximity to Highway 400 and US-19 further connects residents to major employment hubs.
The community is situated on Alpharetta’s Alpha Loop, a multi-use path providing residents convenient access to downtown Alpharetta and the surrounding area. Bell Alpharetta is adjacent to the west portion of the three-mile inner loop, which features a greenway and recreation areas. The Alpha Loop also connects residents to several entertainment destinations, including Avalon, a mixed-use development offering several shopping and dining options as well as a premium movie theater, conference center and hotel.
“Bell Alpharetta is an exciting addition to the Bell Value-Add Fund VII portfolio. The community is located in one of the most desirable areas of Atlanta with great schools, attractive lifestyle amenities, and convenient access to a growing set of employers,” said Nickolay Bochilio, EVP of Investments at Bell Partners. “Bell plans to perform upgrades to the property’s common areas and apartment interiors to improve the living experience for current and future residents.”
Built in 1998, the community features a mix of one-, two- and three-bedroom units with amenities including a pool, gym and community room.
About Bell Partners Inc.
Established in 1976, Bell Partners Inc. (“Bell Partners” or the “Company”) is a privately held, vertically integrated apartment investment and management company focused on high-quality multifamily communities throughout the United States. With approximately 70,000 units under management, Bell Partners is one of the largest apartment operators and renovators in the United States. The Company has over 1,600 associates and ten offices (including its headquarters in Greensboro, N.C.) and offers an extensive and full-service platform containing expertise in acquisitions and dispositions, construction, financing, property operations, accounting, risk management and all other related support functions. Bell Partners is led by a senior management team with an average of over 20 years of experience that has invested throughout all phases of the real estate cycle and has helped the Company complete over $16 billion of apartment transactions since 2002, including over $1.2 billion in 2020 transactions. The Company has completed approximately $1.3 billion in transactions in 2021. For more information, visit our website at www.bellpartnersinc.com.
Contact:
John Perilli
Prosek Partners for Bell Partners Inc.
(401) 316-3375